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Other than that, the tax system is just fine
October 28, 2008
Simply stated, comprehensive federal tax reform cannot take place without the states' approval. Yet the states lack the inclination as well as the resources to embrace far-reaching change. The current environment is barren of deep reflection. Given the power of the states' resistance, proposals for comprehensive tax reform might be a waste of time and effort. Seamless conformity is a fiction; our fractured system continues to ossify, devoid of effective criticism or viable alternatives. Our personal income tax regime lacks the flexibility to deal effectively with a host of possible contingencies.
From "Tax Credits: Teir Critical Role in Comprehensive Tax Reform," by Ralph Tower and Kevin Hall, in today's Tax Analysts Online ($link)
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